BANK OF AMERICA CORP (BAC) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

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Bank of America Reports Q4-15 Net Income of $3.3B, EPS of $0.28
Full-Year 2015 Net Income of $15.9B, EPS of $1.31(1)
Financial Highlights2
Business Highlights2

•    Revenue, net of interest expense, (FTE basis) up 4% to $19.8B(A)
•    Net interest income (NII) (FTE basis) up 2% to $10.0B(A)
    Excluding market-related NII and other adjustments(A), NII was $10.5B, compared to $10.3B in Q3-15 and $10.4B in Q4-14
•    Noninterest income up 7% to $9.7B
•    Provision for credit losses $0.8B, compared to $0.8B in Q3-15 and $0.2B in Q4-14
•    Noninterest expense declined 2% to $13.9B; excluding litigation, noninterest expense declined 3% to $13.4B(B) 
•    Net income up 9% to $3.3B; earnings per diluted share $0.28, compared to $0.25

Previously Disclosed Q4-15 Items

•    ($0.03) per share for reduction to NII for certain trust preferred securities

•    ($0.03) per share for negative impact of U.K. tax law changes

Balance Sheet, Capital and Liquidity

•    Common equity tier 1 capital (transition) of $163.0B; Common equity tier 1 capital (fully phased-in) of $154.1B(C)
•    Global Excess Liquidity Sources increased $65B to record $504B; time to required funding at 39 months(D) 
•    Total deposit balances up $78B to $1.2T
•    Return on average assets 0.61%; return on average common equity 5.1%; return on average tangible common equity 7.3%(E) 
•    Tangible book value per share(F) increased 8% to $15.62; book value per share increased 6% to $22.54
•    Returned $4.5B in capital to shareholders in 2015 through common stock repurchases and dividends
Consumer Banking
•    Loans up $12B, deposits up $48B2
•    Brokerage assets up 8%
•    Total mortgage production up 13%
•    Total U.S. credit card spending up 5%
Global Wealth and Investment Management
•    Total client balances of nearly $2.5T
•    Long-term assets under management flows of $7B in Q4-15
•    Loans up $12B, deposits up $16B2
Global Banking
    Loans up $37B, deposits up $16B2
    No. 3 in Global Investment Banking fees(G)
    Participated in 8 of top 10 debt deals and 7 of top 10 equity deals(G)
Global Markets
•    Excluding net DVA, sales and trading revenue up 11%(H)
–    Fixed income up 20%(H)
–    Equities down 3%(H)
Legacy Assets and Servicing
•    Noninterest expense down 16% to $1.1B; noninterest expense, excluding litigation, down 28% to $795MM(I)
•    Number of 60+ days delinquent first mortgage loans down 46% to 103,000 units
CEO Commentary
Highest Annual Net Income in Nearly a Decade

"The 2015 results were our highest earnings in nearly a decade, reflecting the work we’ve done to develop a straightforward operating model focused on responsible growth and doing more business with each customer and client. We saw solid customer activity in loan growth, deposits, and wealth management asset flows, and we returned more capital to our shareholders. As we build on this progress, we will continue to invest in the future and manage expenses."

– Brian Moynihan, Chief Executive Officer
2015 results include early adoption of new accounting guidance on the recognition and measurement of financial instruments. See endnote H for more information.
Financial Highlights and Business Highlights comparison to year-ago quarter unless noted. Loan and deposit balances are shown on an end-of-period basis. Fully taxable-equivalent (FTE) basis for the corporation is a non-GAAP financial measure. See endnote A for more information. Total revenue, net of interest expense, on a GAAP basis was $19.5B for Q4-15, and net interest income on a GAAP basis was $9.8B for Q4-15. Earnings per share on a fully diluted basis.


The following information was filed by BANK OF AMERICA CORP on Tuesday, January 19, 2016 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K statement of earnings and operation as management may choose to highlight particular information in the press release.

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  • Form Type: Annual
  • Number of times amended: 0
  • Accession Number: 0000070858-16-000137
  • Submitted to the SEC: Wednesday, February 24, 2016
  • Accepted by the SEC: Wednesday, February 24, 2016
  • Period Ending: December 2015

BAC Morningstar


$16.91 +0.04 (+0.24%)

Day's Range:
$16.86 to $17.10

52-Week Range:
$10.99 to $18.09


Volume (Avg):

Earnings per Share:

PEG / Short / PE Ratios:
1.42 / 1.05 / 12.25

Market Cap:

Book Value: